The Deputy BSA Officer is responsible for providing day-to-day leadership, direction, and effective management of activities related to the Bank Secrecy Act (BSA), Anti-Money Laundering (AML), OFAC, the USA PATRIOT Act, and related regulatory functions for the bank and its subsidiaries, including direct oversight of the BSA Operations Team and the Enterprise QC function of the department. The Deputy BSA Officer serves as a subject matter expert and representative of the firm and its subsidiaries within the organization, and supports the Director of the FIU as a representative with law enforcement agencies, regulatory bodies, financial institution associations, and industry peers. The Deputy BSA Officer also serves as an internal subject matter expert for CIP, CDD, Beneficial Ownership, Sanctions, Currency Transaction Reporting and CTR Exemption Requirements. Other responsibilities may be assigned at the discretion of the Director of the FIU.
Manage the development of processes and procedures in the BSA Department to ensure compliance with BSA, AML, and OFAC regulations.
Manage the day-to-day activities of the BSA Operations area, which includes OFAC, 314(a), 311 Special Measures, CTRs, CTR Exemptions, CIP, CDD, Beneficial Ownership, the Monetary Instrument Log, obtaining EDD documentation, and reviewing operational reports, to ensure compliance with BSA, AML, and OFAC requirements and exam guidelines.
Manage the day-to-day activities of the Enterprise QC area, which includes assisting first line managers with the development, review, and update of their BSA, AML, and OFAC related programs, policies, procedures, and processes to ensure compliance with BSA, AML, and OFAC requirements and exam guidelines.
Serve as a point of contact for other business lines with general questions or concerns about investigations and customer risk.
Manage the development and implementation of enterprise-wide periodic training, as well as remediation training to address error trends noted across other business lines.
Serve as a representative of the firm with regulatory bodies, financial institution associations, and AML and related industry associations.
Partner with the Fraud Manager and the Information Security Officer to support interdepartmental communication and regulatory compliance for all fraud and/or cyber instances that are reportable under BSA regulatory guidelines.
Manage the interdepartmental communications, and implementation of BSA, AML, and OFAC related projects and initiatives, based on strategic goals and initiatives set by the Director of the FIU.
Provide performance management oversight and coaching to BSA, AML & OFAC teammates. Manage the reporting of quality and productivity and provide periodic reports to the Director of the FIU.
Assist the Director of the FIU in the review and implementation of new products and services. Make recommendations to business unit and mid-level leaders to mitigate risk and apprise project teams of impact of such products and services.
Support the Director of the FIU in analyses of operational readiness for strategic growth and enterprise-wide initiatives.
Represent the BSA compliance program through periodic reports to business unit leaders and other mid-level leaders for the holding company and its subsidiaries, including communication of significant concerns, changes in enterprise-wide risk levels, emerging trends, and regulatory guidance.
Coordinate and oversee regulatory and audit examinations for the BSA, AML, and OFAC functions, including response, tracking, and remediation. Serve as department liaison between auditors, and examiners.
Stays informed and educated about requirements and proposed changes impacting BSA, AML, and OFAC and makes recommendations for programmatic changes.
Participates in the preparation of timely risk assessments. Utilize risk assessments to evaluate BSA, AML, and OFAC related programs, risk profiles, and risk rating methodologies, and make recommendations to the Director of the FIU.
Attend training seminars as deemed necessary at the direction of the Director of the FIU.
This position reports to the Director of the FIU/BSA Officer.
Education & Experience
Bachelor's degree in Criminal Justice, Business, or a related field is required. Advanced degree is desirable.
Must have at least 10 years of experience in banking and 7 years of experience in BSA, AML & OFAC. Must have 3 years of experience managing a BSA, AML & OFAC department in a regional bank setting.
Certification as a BSA/AML/OFAC professional (i.e.: CAMS) is required.